Mark Lazarowicz
Main Page: Mark Lazarowicz (Labour (Co-op) - Edinburgh North and Leith)Department Debates - View all Mark Lazarowicz's debates with the Cabinet Office
(12 years, 4 months ago)
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The Prime Minister
To be fair to the Leader of the Opposition, he has said that whether or not they will join the euro depends on how long he is Prime Minister, whereas the shadow Chancellor has said that they will not join the euro “in his political lifetime”, which gives us an interesting conflict—[Interruption.] For once, the shadow Chancellor has said something from a sedentary position with which I agree. He said that his political lifetime could be quite short—here’s hoping.
Mark Lazarowicz (Edinburgh North and Leith) (Lab/Co-op)
On a more serious note—[Interruption.]
Mr Speaker
Order. This outbreak of amity is very welcome, but I am sure that Members are united in wanting to hear Mr Mark Lazarowicz.
Mark Lazarowicz
On a more serious note about the euro, Greece now has a new Government, which indicates that it will accept the bail-out but wants some flexibility in how it is implemented. What will the G20 and other institutions do to meet that request? Of course Greece must accept its responsibilities, restructure its economy and all the rest of it, but at the same time is it not important that we show flexibility, so that we do not run the risk of the new Greek Government collapsing along with the deal and, as a result, bringing down not only Greece, but many others in the world community?
The Prime Minister
The hon. Gentleman asks an important question. It will be a decision for the Greeks to make in collaboration with the members of the European Union that have extended that money to Greece, of which we are not one, and of course the International Monetary Fund. The problem is that any delay in the terms of the memorandum effectively means more money going from those predominantly eurozone members to Greece, so those discussions have to be had; but other countries that are on track with the programmes that have been put in place will, I think, feel very uneasy about one country getting special terms. In the end, it will be a matter for the eurozone members and Greece to hammer this out between them.